Silver Proof and Mint sets

[jim4silver]

Anyone here have an opinion on pre '65 proof and mint sets? I have been getting some lately for about the same price as regular junk silver (around here that is either at melt or slightly above).

I figure these have to have some miniscule bit of numi value besides the silver. I have been able to get some sets from late 50's to 63 (a couple 64 sets too, but I don't care for those as much).

These are not available to me all the time so when I have the chance I have been buying. I was told that for some reason the premiums on them are virtually gone (to dealers and wholesalers) right now in that when silver hit near 50 people were unloading them like crazy and the big dealers are flooded with them and just want to move them. I remember a year or so ago any of these from the 50s were selling for quite a bit over melt.

What do you all think?

Jim

 

Amazon Forum Fav 👍

How to Research for Treasure Hunting and Metal Detecting From Lead Generation to Vetting - Grab it through Amazon!

[FreedomUIC]

Anyone here have an opinion on pre '65 proof and mint sets? I have been getting some lately for about the same price as regular junk silver (around here that is either at melt or slightly above).

I figure these have to have some miniscule bit of numi value besides the silver. I have been able to get some sets from late 50's to 63 (a couple 64 sets too, but I don't care for those as much).

These are not available to me all the time so when I have the chance I have been buying. I was told that for some reason the premiums on them are virtually gone (to dealers and wholesalers) right now in that when silver hit near 50 people were unloading them like crazy and the big dealers are flooded with them and just want to move them. I remember a year or so ago any of these from the 50s were selling for quite a bit over melt.

What do you all think?

Jim

I buy anywhere from 25 - 50 proof sets a week. I mainly stick between 1960 (Non Small Date) and 1964. I usually pay no more than $25.00 a piece (Shipping Included). I have been buying these for over a year now and turned most into gold just before silver dropped.

I am now in the process of building my "Junk" silver back up again. Look for Cameo's, I have found 4 dimes that were Deep Cameo Proofs and beautiful. That is why all or the majority of the proof sets have been opened. People are looking for the cameo's as they carry a good premium over melt. The four that I have found will be sent in for grading eventually.

I do have a set of Proof Sets that I keep for Numismatic Value for 1956 - 1964 and 1968, 1969 and (3) 1970 sets. The 1970 is a mint set and not a proof.

 

[JD-GA]

Jim the silver value simply shot up higher than the collectors or numismatic value is all. You would have to hold onto those sets to get a numismatic premium once the economy gets better and time passes for the collectors value to catch up again. Of course the chance is silver will keep going up anyway making it impossible for numi value to overtake it again.

 

[jim4silver]

As long as the silver price holds up, I figure it is a no lose situation. Since I have been able to get the sets for about the same price as regular junk silver, I figure I am simply adding ounces.

I am mostly interested in the 50's sets, in that back when I first bought these they were well over melt. Maybe they will never get that way again, but for now it feels like I am getting a bit of a good deal.

I will start looking at my sets for the deep cameos, I never really paid attention to any of them before.

Jim

 

[Diver_Down]

As long as the silver price holds up, I figure it is a no lose situation. Since I have been able to get the sets for about the same price as regular junk silver, I figure I am simply adding ounces.

I am mostly interested in the 50's sets, in that back when I first bought these they were well over melt. Maybe they will never get that way again, but for now it feels like I am getting a bit of a good deal.

I will start looking at my sets for the deep cameos, I never really paid attention to any of them before.

Jim

Cameo and deep cameo Franklins can fetch moon money. While you are checking out the proof sets, check the 62 Franklin Proof. A newly reported error has turned up. Looking at the back of the Liberty Bell to the right of "stow", a mystery mint mark of Denver has been punched in some of the dies.

 

[jim4silver]

As long as the silver price holds up, I figure it is a no lose situation. Since I have been able to get the sets for about the same price as regular junk silver, I figure I am simply adding ounces.

I am mostly interested in the 50's sets, in that back when I first bought these they were well over melt. Maybe they will never get that way again, but for now it feels like I am getting a bit of a good deal.

I will start looking at my sets for the deep cameos, I never really paid attention to any of them before.

Jim

Cameo and deep cameo Franklins can fetch moon money. While you are checking out the proof sets, check the 62 Franklin Proof. A newly reported error has turned up. Looking at the back of the Liberty Bell to the right of "stow", a mystery mint mark of Denver has been punched in some of the dies.

Thanks for the great info DD, Freedom and JD! I wish more such knowledgeable posters who are on the CRHing forum would come over here every once in a while to post.

I plan to go through my sets and look for these. I know I have seen a couple of Franklins that were more "cameo" so to speak than others. Don't know if they are deep cameo. I believe I have seen more of these on the 1960 sets if I am not mistaken.

Jim

 

[billjustbill]

I plan to go through my sets and look for these. I know I have seen a couple of Franklins that were more "cameo" so to speak than others. Don't know if they are deep cameo. I believe I have seen more of these on the 1960 sets if I am not mistaken.

Jim
[/quote]

Jim,

As I read your reply to the other question, I began to wonder about how is the best way to send in a possible "Cameo" if it's between the clear plastic display sheet. Would you leave it within the set and let the certifying people remove it when they grade it, or would you "white glove it" and send only the one to be graded?

 

[jim4silver]

I plan to go through my sets and look for these. I know I have seen a couple of Franklins that were more "cameo" so to speak than others. Don't know if they are deep cameo. I believe I have seen more of these on the 1960 sets if I am not mistaken.

Jim

Jim,

As I read your reply to the other question, I began to wonder about how is the best way to send in a possible "Cameo" if it's between the clear plastic display sheet. Would you leave it within the set and let the certifying people remove it when they grade it, or would you "white glove it" and send only the one to be graded?
[/quote]


Bill,

I have never personally sent anything in to be graded, although I have bought several graded coins of various types. But if I was going to send in a coin to be graded I would try to keep it in its original holder/wrapper if possible. It would be easy to cut around the cellophane in a proof set and keep the coin protected in the original mint wrapping. Also the grading company would see the coin was in its original holder/wrapping and would thus not be able to claim it was improperly cleaned, etc, I would think.

Jim

 

[Cherryman68]

I don't know anything about sending a coin to be graded but I would suggest wrapping it good in tissue or tp something soft that if the plastic breaks in shipping.

I have also noticed no preimium on mint sets. I had a 63 franklin and 64 kennedy set that the last gun show would not give me one cent over his junk silver price and I worked him hard.

 

[FreedomUIC]

I don't know anything about sending a coin to be graded but I would suggest wrapping it good in tissue or tp something soft that if the plastic breaks in shipping.

I have also noticed no preimium on mint sets. I had a 63 franklin and 64 kennedy set that the last gun show would not give me one cent over his junk silver price and I worked him hard.

Not Tissue or TP, 2X2 flips.

 

[Diver_Down]

I don't know anything about sending a coin to be graded but I would suggest wrapping it good in tissue or tp something soft that if the plastic breaks in shipping.

I have also noticed no preimium on mint sets. I had a 63 franklin and 64 kennedy set that the last gun show would not give me one cent over his junk silver price and I worked him hard.

Common mint/proof sets no longer carry a numismatic premium with the high price of silver, but I agree with Jim in that if you can buy "Junk" silver that looks as nice as it does, it is a no-brainer. Eventually as the sets get broken out and tossed in with junk silver bags, then the intact sets will carry a premium as the there will be less supply.

Also, take a closer look at sets in the 50's. If you can find them in original packaging for a slight premium, then snag them. I just picked up a 53 and 55 proof set. The key is the 53 set. It retails in the ballpark of $200.

 

[jim4silver]

I don't know anything about sending a coin to be graded but I would suggest wrapping it good in tissue or tp something soft that if the plastic breaks in shipping.

I have also noticed no preimium on mint sets. I had a 63 franklin and 64 kennedy set that the last gun show would not give me one cent over his junk silver price and I worked him hard.

Common mint/proof sets no longer carry a numismatic premium with the high price of silver, but I agree with Jim in that if you can buy "Junk" silver that looks as nice as it does, it is a no-brainer. Eventually as the sets get broken out and tossed in with junk silver bags, then the intact sets will carry a premium as the there will be less supply.

Also, take a closer look at sets in the 50's. If you can find them in original packaging for a slight premium, then snag them. I just picked up a 53 and 55 proof set. The key is the 53 set. It retails in the ballpark of $200.

You did well with the 53 and 55. The last time I was buying Franklin proof sets there were some from the 50s (mostly 58 and 59). There happened to be a 55 in there but the dealer spotted and said he had to check to see if he could give it to me for the same price as the others. Unfortunately when he checked the gray sheets the bid was about 110 per set. He offered it to me for 100 and I said "no thanks". I didn't know they were worth any more than the other sets.

Jim

 

[Cherryman68]

Just realized I never finished my sentence. I ment to say if its still in original plastic wrap the original plastic in tissue so if the original plastic rips or breaks you won't have scraches. Putting it in a 2X2 would require opening it and "white gloveing" it. To much risk of damage when a simple blemish can devalue it so much.

just my uninformed opinion. YMMV